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NEW YORK , Jan. 6, 2023 /PRNewswire/ -- A latest research report [115+] pages with 360-Degree visibility, titled "Glass Fiber Yarn Market Share, Size, Trends, Industry Analysis Report, Glass Fiber Yarn Market Share, Size, Trends, Industry Analysis Report by Grade Type; By Product Type; By Application; By End-Use Industry; By Region; Segment Forecast, 2022 - 2030" published by Polaris Market Research in its research repository. Spun Polyester Yarn Spinning Mills
According to the research report, the global Glass Fiber Yarn Market share was estimated at USD 2,299.2 million in 2021 and is expected to reach USD 3,911.0 Million by 2030. The global Glass Fiber Yarn Market is expected to grow at a compound annual growth rate (CAGR) of 6.1% from 2022 to 2030.
What is Glass Fiber Yarn? How Big is Glass Fiber Yarn Market Size & Share?
Glass fiber yarn comprises several E-Glass filaments of a certain tiny diameter gathered together to form a yarn. Fiberglass is highly strong and has less weight than other materials. This makes it easier for manufacturers to fabricate aeronautical and construction materials for building lightweight structures. The structure of the yarn is arranged and protected by twisting the fibers either in Z-direction or S-direction. Fiber glass yarns are formed by combining more single filaments of around 11.0~13.0 microns in diameter.
A few key characteristics of glass fiber yarns include High tensile strength and good dimensional stability, high-temperature tolerance, chemical and flame resistance, low weight, and outstanding electrical insulation properties. The glass fiber yarn market demand is being driven by the growing use of fiberglass yarn for manufacturing processes in various industrial sectors such as power generation, aerospace, food processing, and the automotive industry.
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Glass Fiber Yarn Market Report Highlights
Some of the Top Market Players Are:
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The product is gaining high demand and adoption across various industries because of its material characteristics. Glass fiber yarn is used for thermal insulation in the aerospace, automotive, and construction industries. While in the electrical industry, it is utilized to manufacture printed circuit boards. These applications are boosting the glass fiber yarn market size. Growing investments in the renewable energy field are expected to enhance the glass fiber yarn industry's growth. Also, rising infrastructure development across developing countries, such as metro rail projects, is predicted to fuel the demand for fiberglass assemblies due to their properties, such as fire resistance and high tensile strength.
Furthermore, the growing demand for printed circuits and semiconductors, as well as the development of the telecommunications industry, is likely to accelerate the demand for glass fiber production. In addition, fiberglass yarn offers excellent elasticity and endurance in weaving fabrics which is estimated to foster the growth of the glass fiber yarn market. It is also used in producing architectural facades, bridge decks, bridge railings, ad sanitary fixtures.
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Glass Fiber Yarn Market: Report Scope
AGY Holding Corp, Chongqing Polycomp International Corporation, Fiber-line, Fibtex Products, China Jushi Co., Ltd., Newtex Industries, Inc., Nippon Electric Glass Co. Ltd, Nitto Boseki Co. Ltd., PFG Fiber Glass Corporation, Saint-Gobain Performance Plastics, Taiwan Glass Industry Corporation
By Grade Type, By Product type, By Application, By End-Use Industry and By Region
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Based on grade-type glass fiber yarn market segmentations, the E Yarn category is expected to show the fastest growth due to the rising demand for novel electronics, which has led to an increase demand for printed circuit boards with high-performance chipsets. The increasing investments in electrical glass fiber yarn production by leading market players to accomplish guidelines and needs of commercial consumers are fueling the segment growth. Further, the increasing penetration of electrical fiberglass for modern telecommunications and data processing systems is anticipated to accelerate segment growth.
On the basis of product type, ultra-fine yarn accounted for the largest share of the glass fiber yarn market because of the increasing trend of miniaturization in sectors including telecommunication, electronics, and other industries. Also, the growing requirement for ultrathin printed circuit board (PCB) substrates to support high-performance chipsets is expected to augment the segment expansion. Moreover, factors such as the rising popularity of multi-layer circuit boards in the semiconductor industry coupled with a surge in demand for wearable gadgets involving compact, high-performance integrated circuits (IC) are predicted to the growth of the segment.
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In terms of geography, the Asia Pacific region is expected to grow at a significant rate. This can be attributed to the expansion of infrastructure and the automotive industry across major nations is one of the prominent factors fueling the market demand in Asia Pacific . Also, the growing demand for building and construction and the rise in penetration of glass fiber parts boost the market growth. Then, an increase in demand for fiberglass parts from leading companies for large-scale projects fuels regional market growth.
Moreover, North America is projected to grow during the foreseen period due to the rising growth of locomotive industries and a surge in demand for lightweight equipment with structural durability. In addition, major properties of glass fiber, compared to other building substantial such as the heat resistance, anti-corrosion, and fireproof nature of the material, are expected to upsurge the demand for fiberglass yarn in North America .
Browse the Detail Report "Glass Fiber Yarn Market Share, Size, Trends, Industry Analysis Report, Glass Fiber Yarn Market Share, Size, Trends, Industry Analysis Report By Grade Type; By Product Type; By Application; By End-Use Industry; By Region; Segment Forecast, 2022 - 2030" with in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/glass-fiber-yarn-market
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Polaris Market Research has segmented the glass fiber yarn market report based on grade type, product type, application, end-use, and region:
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